Benjamin Friedman Discusses Adam Smith at Boston College

The Harvard professor explored the lasting influence of The Wealth of Nations at an Institute for the Liberal Arts event.

Updated on Oct. 25, 2026 in Economic Indicators

Bold flat-color editorial illustration of an antique book on a pedestal, representing the study of classical economic theory. — Harvard professor Benjamin Friedman analyzed the contemporary relevance of Adam Smith's economic theories at a Boston College lecture on Wednesday. AI Illustration. Upload story photo >

Live Poll

Do you believe individuals acting in their own self-interest ultimately benefit the broader national economy?

Harvard political economy professor Benjamin Friedman delivered a lecture on the enduring relevance of Adam Smith at Boston College. The talk was part of a two-day conference hosted by the Institute for the Liberal Arts.

Why it matters

The conference sought to examine how Smith's foundational economic philosophies remain applicable to modern discourse. It highlights the continued study of classical economic theory in contemporary academic settings.

Adam Smith identified market competition as the primary condition for economic welfare over 250 years ago in his seminal work. This conference aimed to ground current economic debates in those historical frameworks.

The players

Benjamin Friedman

He is the William Joseph Maier professor of political economy at Harvard University.

Adam Smith

He was an 18th-century philosopher known for authoring The Wealth of Nations and defining market competition.

Institute for the Liberal Arts

This Boston College institution organizes events and conferences to foster interdisciplinary scholarly inquiry.

The details

Benjamin Friedman, the William Joseph Maier professor of political economy at Harvard University, presented his analysis during the event. The session focused on the core tenets of Adam Smith's work and their impact on today's economic systems.

Adam Smith published The Wealth of Nations in 1776.
Benjamin Friedman delivered his lecture on the evening of Thursday, October 22, 2026.

Macro View

The discussion places modern economic theory in dialogue with The Wealth of Nations to evaluate the evolution of market competition. This mirrors historical cycles of economic thought where classical principles are re-examined against contemporary volatility.

This lecture provides students and the public with a deeper understanding of the theoretical foundations behind modern market pricing and competition. It helps clarify how historical economic principles influence current cost-of-living debates.

The takeaway

Understanding classical economic philosophy can help individuals better interpret modern market shifts and policy debates. Re-evaluating foundational texts often provides new clarity on how competition drives current economic welfare.